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| Source: foodpanda website. |
Foodpanda, the mobile food delivery marketplace, has announced a new financing round of US$100 million led by Goldman Sachs. Existing investors, among them Rocket Internet SE, also participated in the round.
Together with the last funding of US$110 million in March 2015, foodpanda has raised over US$310 million since its launch in 2012. On a global level, foodpanda, together with its affiliated brands, focuses on emerging markets, operating in 580 cities and 40 countries across five continents.
As part of this strategy foodpanda Singapore launched a premium delivery service in Singapore, through which foodpanda customers in the CBD to receive their food within 60 minutes of placing an order, with up to 50% in discounts for delivery charges.
“Foodpanda understands the dynamics of a fast-paced working environment, where we see a rising trend of people opting for convenient solutions of having takeout meals while at work without compromising choice or quality. As the leading platform in offering the widest selection of deliverable food options, we strive to ease the lives of our customers by simply delivering the food you love to wherever you are,” explains Cassandra Ong, Marketing Director of foodpanda Singapore.
Ian Friedman, Goldman Sachs Investment Partners added: "We have been impressed by both the growth trajectory and high-quality management team of foodpanda. We believe that foodpanda has a tremendous opportunity to cement its emerging markets leadership position in the coming years. It is our expectation that the company’s innovative, value-added offerings will lead foodpanda to be the winner in online food delivery within the markets in which it operates."
As part of the financing round, Goldman Sachs Investment Partners will join the foodpanda advisory board.
Together with the last funding of US$110 million in March 2015, foodpanda has raised over US$310 million since its launch in 2012. On a global level, foodpanda, together with its affiliated brands, focuses on emerging markets, operating in 580 cities and 40 countries across five continents.
Part of the money was used to acquire key competitors in India, Mexico, Russia, Brazil, Eastern Europe and Southeast Asia. The company will use the recent investment to further expand its own delivery activities and improve overall customer experience across its 40 markets. It will now accelerate its efforts to drive customer satisfaction, aiming to offer the most convenient way of ordering food – from the mobile app and online.
As part of this strategy foodpanda Singapore launched a premium delivery service in Singapore, through which foodpanda customers in the CBD to receive their food within 60 minutes of placing an order, with up to 50% in discounts for delivery charges.
“Foodpanda understands the dynamics of a fast-paced working environment, where we see a rising trend of people opting for convenient solutions of having takeout meals while at work without compromising choice or quality. As the leading platform in offering the widest selection of deliverable food options, we strive to ease the lives of our customers by simply delivering the food you love to wherever you are,” explains Cassandra Ong, Marketing Director of foodpanda Singapore.
Ralf Wenzel, Co-Founder and CEO of foodpanda group said: “We are very happy about the recent support from Goldman Sachs Investment Partners, with its deep expertise in online marketplaces, and which, together with our renowned group of investors, will allow us to build the leading mobile food delivery marketplace in emerging markets targeting over 3 billion consumers. The emerging markets represent the largest opportunity in online food delivery and we are committed to create the most convenient way for ordering and delivering food."
Ian Friedman, Goldman Sachs Investment Partners added: "We have been impressed by both the growth trajectory and high-quality management team of foodpanda. We believe that foodpanda has a tremendous opportunity to cement its emerging markets leadership position in the coming years. It is our expectation that the company’s innovative, value-added offerings will lead foodpanda to be the winner in online food delivery within the markets in which it operates."
As part of the financing round, Goldman Sachs Investment Partners will join the foodpanda advisory board.
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